- Upexi Inc (NASDAQ:UPXI) plans to eliminate its California Third Party Logistics (3PL) location, reduce its Nevada presence, and consolidate its Florida operations into a single location in Tampa.
- Upexi estimates to achieve annual cost savings of about $1 million to $1.5 million over the next six months due to the consolidation.
- “Consolidating these locations to a lower-cost, business-friendly state like Florida allows management to reduce travel and have a central operating center for our team,” said CEO Allan Marshall.
- “While we will continue to evaluate the financial benefits of partnering with smaller, regional 3PL providers across the country, we plan to primarily distribute our current and future brands through our main 3PL location in Florida.”
- Upexi owns brands in the health, wellness, pet, beauty, and other growing markets.
- Also Read: Upexi Takes Full Control Of Amazon-Reseller Cygnet Online One-Year Ahead Of Schedule
- Price Action: UPXI shares are trading higher by 1.63% at $4.36 on the last check Tuesday.
What’s Going On With Nio Stock Wednesday?
NIO Inc - ADR (NYSE: NIO) shares are trading lower by 4.9% to $7.69 Wednesday afternoon, pulling back following Tuesday's strength. Chinese stocks surged in Tuesday's trading session after Beijing announced efforts to stimulate its economy, which had been facing challenges li
